Brazil's Gerdau talks benchmark dollar notes due 2021 at 6% area

By Christine Van Dusen

Atlanta, Sept. 22 - Brazil-based Gerdau Trade Inc. set price guidance for its planned benchmark-sized dollar-denominated notes due January 2021 (BBB-/BBB-) at the 6% area, a market source said.

HSBC, Santander and JPMorgan are the bookrunners for the Rule 144A and Regulation S deal, which closed its books on Wednesday and expected to price soon after.

Proceeds will be used to repay indebtedness and for general corporate purposes.

Gerdau Trade is a subsidiary of Gerdau SA, a Porto Alegre, Brazil-based steelmaker.

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